Deep tech and impact innovation are not terms that are readily discussed in the Caribbean tech start-up space but are considered crucial and strategic if the region wants to level up and truly punch above its weight in tech innovation and entrepreneurship. Telly Valerie Onu, of Quintessence Consulting Inc., shares with us key insights on how Caribbean countries can increase the impact of technology on their societies and how tech entrepreneurs can better access the support they need. Among other things, we discuss: what is meant by the terms, ‘deep tech’, ‘convergence economics’ and ‘impact innovation’ and the connection between them; the challenges that developers and start-ups face generally and when working with embedded deep tech; and how the tech community can leverage the opportunities in AgTech and climate financing.

 

This episode is also available on SoundCloud, Apple Podcasts, Google Podcasts, Spotify and Amazon Music!!

If you regularly read our news roundup, which is published on Mondays, and gives a rundown of the tech news and developments that occurred in the Caribbean region in the previous week, you are likely to agree that 2023 was packed with activity. There were numerous developments in the fintech space, cybercrime and cybersecurity, and artificial intelligence, for example, in addition to a broad range of general happenings in the business community.

However, if you listened to our 2023 end-of-year tech briefing, which was our last episode of the year, our guests were of the view that although there may have been quite a buzz in the Caribbean tech space, the developments did not appear to have any meaningful impact. This view is likely to elicit a rebuttal in many quarters, but if it is carefully considered, and we move beyond the buzz, the odds are there will be grudging agreement.

One of the emerging themes for the ICT Pulse Podcast in 2024 is to try to have us examine technology more critically. Let us move away from using technology just because it is available and figure out how to use it more strategically to improve our lives, livelihoods and that of the wider society of which we are a part. Hence, in this is our first episode of 2024, we will be exploring impact innovation and deep tech, the relationship between the two, and of course, examining them from a Caribbean perspective.

 

Introducing our guest

Telojo Valerie Onu

Telojo “Telly” Valerie Onu has been at the forefront of digital financial innovation and ecosystem building with over 20 years of experience as a financial and impact innovator, digital economist and digital transformation expert. She is a thought leader and a co-author of The Insurtech Book and The Wealthtech Book.

She is the Head of Governance and Execution for the Bantu Blockchain Foundation, a Seychelles Foundation with offices in Lagos, Nigeria, which governs the Bantu Network Infrastructure. She is also the International Director of Governance and Compliance for the JD Euroway Finance Group (Private Banking), which is headquartered in Canada, and is also the Director of Governance and Compliance and a Transactions Specialist for JDE FINEX, a regulated institutional digital asset exchange and liquidity provider.

Telly is the Founder of Valerie Capital (formerly Beyond Capital Market), a digital financial market infrastructure (DFMI) and digital asset management firm focused on embedded and alternative finance.  She is also the Founder of Quintessence Consulting Inc., a global strategy and management consulting firm that has led multimillion-dollar investment facilitation and transformation projects and their implementation.

 

Insights into our conversation

Telly is often many steps ahead of the masses in identifying tech trends. So, in addition to offering excellent insights, she can help us see situations more holistically and connect the dots.

Deep tech, convergence economics and impact innovation are not terms that are discussed in the Caribbean tech space – either by policymakers or the private sector. But when you understand these terms, their potential and implications, they can transform the Caribbean tech landscape as we know it.

To that end, Telly, not only explains these terms but also shares examples of how they are connected and can benefit our communities. The conversation also extends to subjects like AgTech (Agricultural Technology or Agrotechnology), climate tech and climate financing, all of which are very top-of-mind these days, and how tech entrepreneurs can get more involved to capitalise on the opportunities – and financing(!) – that are available.

Below are key questions that Telly answered during our conversation.

  1. When people talk about “deep tech”, “convergence economics” and “impact innovation”, what do they mean?
  2. What kind of impact is embedded deep tech currently having on innovation? Are there specific examples you can share?
  3. Over the years, I have interviewed a few Caribbean start-ups that were pursuing innovative ventures, but sadly, most of them have folded. What key challenges do developers or start-ups face when working with embedded deep tech?
  4. How can these challenges be addressed to foster greater innovation?
  5. One of the biggest challenges Caribbean tech start-ups are experiencing is a lack of financing, generally and patient capital, more specifically. Are there options we should be exploring?

 

We would love to hear your thoughts!

Do leave us a comment either here beneath this article, or on our Facebook or LinkedIn pages, or via Twitter, @ICTPulse.

Also, if you or a member of your network is interested in joining us for an episode, do get in touch.

Let’s make it happen!

 

Select links

Below are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:

 

 

Images credit:  T. V. Onu; Gerd Altmann (Pixabay); Kaboompics.com (Pexels);  Pixabay (Pexels)

Music credit: The Last Word (Oui Ma Chérie), by Andy Narrell

Podcast editing support: Mayra Bonilla Lopez